Atlantic Union Bankshares (AUB) investor relations material

Executive summary

• Reported strong Q2 2026 results with net income available to common shareholders of $158M and diluted EPS of $1.11; adjusted operating earnings were $134M with adjusted EPS of $0.94.

• Achieved robust loan and deposit growth, improved asset quality, and core operating performance, with no merger-related costs for the first time in two years.

• Generated a $32.3M pre-tax gain from the sale of equity interest in Bearing Insurance.

• Investments over the past two years are translating into stronger earnings capacity and capital generation.

• Continued focus on organic growth, capital generation, and disciplined execution, with healthy lending pipelines and deposit growth.

Financial highlights

• Net income available to common shareholders was $158M; adjusted operating earnings were $134M; diluted EPS was $1.11 (GAAP) and $0.94 (adjusted); adjusted ROTCE 20.11%, ROA 1.47%, efficiency ratio 47.47%.

• Net interest income (GAAP) was $325.1M, up $12.7M from Q1; net interest margin (FTE) rose to 3.94%.

• Noninterest income increased to $90.2M, mainly due to the Bearing Insurance gain; adjusted noninterest income up $3.1M to $57.9M.

• Noninterest expense decreased to $199.1M, reflecting lower merger-related costs; adjusted noninterest expense down to $184M.

• Provision for credit losses was $11.7M, up from $2.7M in Q1 2026.

Outlook and guidance

• Full-year 2026 outlook projects end-of-period loans of $29B–$30B and deposits of $31B–$32B.

• Net interest income (FTE) expected at $1.32B–$1.33B; NIM guidance at 3.90%–3.95%.

• Adjusted operating noninterest expense forecasted at $742M–$752M; noninterest income expected at $220M–$230M.

• Allowance for credit losses projected to remain in the 115–120 bps range; net charge-off ratio guidance reduced to 5–10 bps.

• Annual tangible book value per share growth of ~12% expected in 2026.